Venezuela again seeks to recuse arbitrators in Conoco dispute

CARACAS, March 26 (Reuters) - Venezuela is seeking to recuse
two arbitrators on a World Bank tribunal hearing in a dispute
with U.S. oil giant ConocoPhillips, less than a year
after the tribunal rejected a similar request regarding the same
arbitrators.

The Oil Ministry said on Thursday it asked the International
Centre for Settlement of Investment Disputes (ICSID) to remove
arbitrators Kenneth Keith and Yves Fortier from the three-person
panel.

Both had shown "a marked attitude against the Republic," the
ministry said in a statement.

The dispute stems from late socialist leader Hugo Chavez's
2007 takeover of Conoco's oil projects including two
multi-billion dollar heavy oil operations. ICSID in a partial
ruling last year said that move was unlawful.

Last May, ICSID rejected Venezuela's request to change the
same arbitrators. Conoco at the time said the request
constituted "meritless and desperate delaying tactics by
Venezuela."

ICSID does not comment in public on cases it is handling,
and there was no immediate comment from Conoco on Venezuela's
latest statement.

Cash-strapped Venezuela has been facing over 20 major
arbitration awards, most stemming from high-profile
nationalizations during Chavez's 1999-2013 rule.
(Reporting by Eyanir Chinea, Writing by Brian Ellsworth;
Editing by Phil Berlowitz)